According to new report published by Grand View Research, U.S. automotive coolant market is expected to reach USD 1.23 billion by 2024, Increasing passenger car sales as a result of increased consumer confidence and high disposable income in recent years has impacted industry growth to a large extent.

The U.S. automotive coolant marketis expected to reach USD 1.23 billion by 2024, according to a new report by Grand View Research, Inc. Increasing passenger car sales as a result of increased consumer confidence and high disposable income in recent years has impacted industry growth to a large extent.

The U.S. Department of Environmental Quality (DEQ) has decreed antifreeze recycling standards under the ‘Best Management Practices’ in the industry, leading to greater consumption of recycled coolants with low toxin content. Growing consumer awareness regarding recyclable & sustainable materials is further likely to impact industry growth positively over the forecast period.

Propylene glycol emerged as the leading product segment and accounted for over 55% of total demand in 2015 on account of its growing demand as a substitute for conventional ethylene glycol coolants. It is also expected to witness the highest growth over the forecast period. High growth of propylene glycol can be attributed to the product’s non-toxicity & greater freeze point depression properties.

The U.S. automotive coolant market demand was 61.7 million gallons in 2015 and is expected to reach 118.0 million gallons by 2024, growing at a CAGR of 7.9% from 2016 to 2024

High consumer awareness regarding the ethylene glycol based coolants advantageous characteristics such as convective heat transfer properties is expected to foster its application as an antifreeze & corrosion inhibitor in automobiles.

Coolants based on the organic acid technology (OAT) dominated the industry owing to their phosphate-free nature

OAT segment is anticipated to grow at a rapid pace owing to its ability to provide superior protection to the automotive cooling system, while maintaining compatibility with exotic materials such as aluminum & magnesium

The OEM distribution segment is anticipated to lose importance to the automotive aftermarket, since most automobile manufacturers refrain from assuming the responsibility of coolant refilling

Commercial vehicles segment is expected to be the dominant end-use segment with its growth projected at over 8% from 2016 to 2024

Increasing trade activities post revival of the U.S. economy has stimulated the demand for commercial heavy-duty vehicles leading to high coolant demand in the region

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.